SBA Lenders Actively Funding Businesses in South Dakota
Since 2020, 162 different SBA lenders have approved2,787 loans for businesses in South Dakota. The table below ranks the most active by loans actually made in the state, not by advertising budget. A lender headquartered elsewhere that funds heavily in South Dakotabeats a local name that rarely writes SBA loans.
Most active SBA lenders in South Dakota
| Lender | SD loans since 2020 | Median loan | Median rate |
|---|---|---|---|
| Dakota Business Finance | 478 | $386K | n/a |
| First Bank & Trust | 72 | $400K | 9% |
| U.S. Bank, National Association | 59 | $45K | 8.51% |
| First Interstate Bank | 49 | $200K | 7.75% |
| Wells Fargo Bank National Association | 37 | $15K | 9.75% |
| Midwest Business Finance Corporation | 27 | $390K | n/a |
| The Huntington National Bank | 15 | $95K | 9.5% |
| Northeast Bank | 13 | $103K | 10.75% |
| BayFirst National Bank | 11 | $150K | 12.25% |
| United Midwest Savings Bank National Association | 11 | $150K | 9.75% |
| Live Oak Banking Company | 10 | $785K | 8.35% |
| Readycap Lending, LLC | 8 | $150K | 11.25% |
| Celtic Bank Corporation | 8 | $150K | 10.25% |
| Byline Bank | 7 | $800K | 9.5% |
| Stearns Bank National Association | 7 | $225K | 9% |
| GBC International Bank | 7 | $588K | 6.5% |
| Newtek Bank, National Association | 6 | $200K | 11.25% |
| Heritage Bank Inc | 5 | $150K | 11.75% |
| Shoreham Bank | 3 | $1.7M | 9.25% |
| First Fidelity Bank | 3 | $631K | n/a |
| U.S. Bank, National Association | 3 | $816K | n/a |
| CenTrust Bank, A Division of SmartBiz Bank National Association | 2 | $150K | 11.25% |
| First Commonwealth Bank | 2 | $390K | 9% |
| TowneBank | 2 | $624K | 9% |
| Pathward National Association | 2 | $1.0M | 9.5% |
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Start your funding profile →Sources and limits. Derived from U.S. Small Business Administration 7(a) and 504 FOIA loan-level records. Loan counts reflect projects located in South Dakota. Figures describe past lending activity only and are not offers, quotes, or qualification decisions. Big Brain Funding is not a lender and is not affiliated with any lender listed.